## **St. John’s Drumgath Parish, Rathfriland** 

## **Statement of Financial Activities for the Year ended 31[st] December 2023** 

||**Note**|**Unrestricted**<br>**Funds**|**Restricted**<br>**Funds**|**Total Funds**|**Prior Year**<br>**Total Funds**|
|---|---|---|---|---|---|
|**Income and endowments from:**||||||
|Donations and Legacies|**3**|48,021|2,600|50,621|91,468|
|Income from Charitable Activities|**4**|5,347|0|5,347|1,076|
|Investments|**5**|1,133|0|1,133|1,308|
|Other Income|**6**|28,247|4,200|32,447|31,588|
|**Total Income**||**82,748**|**6,800**|**89,548**|**125,440**|
|||||||
|||||||
|**Expenditure on:**||||||
|RaisingFunds|**7**|2,815|0|2,815|5,353|
|Charitable Activities|**7**|84,643|16,502|101,145|82,436|
|**Total Expenditure**||**87,458**|**16,502**|**103,960**|**87,789**|
|**Net Income / (expenditure) resources**<br>**before transfers**||**-4710**|**-9702**|**-14,412**|**37,651**|
|||||||
|**Transfers**||||||
|Gross Transfers between funds - in||0|0|0|0|
|Gross transfers between funds – out||0|0|0|0|
|||||||
|||||||
|**Assets, Liabilities**||||||
|Investment/assets||16,747|0|16,747|15,614|
|Other Assets<br>Loan to G. R. C. Development Forum||0|0|0|0|
|Gains on revaluation, fixed assets,<br>charity’s own use||990,000|0|990,000|990,000|
|Liabilities – Creditors||0|0|0|-10,000|
|Net movements in funds||0|<br>0|0||
|||||||
|**Reconciliation of Funds**||**1,006,747**|**0**|**1,006,747**|**995,614**|
|**Total funds brought forward**||**84,655**|**38,775**|**123,430**|**137,841**|
|**Total funds carried forward**||**1,091,402**|**38,775**|**1,130,177**|**1,133,455**|



11 



St. John's Drumgath Parlsh. Rathfrlland
Statement of Financlal Posltlon (Balance sheet) as at 31" December 2023
Not
As •t 31.12.23
As at 31.12.22
FixedAssets
Tan8ible Assets
Investments
12
13
990,0(M)
15.614
l.lJ)5 614
16,747
CyntntAssets
Cash at 8ank and in Hand
123 430
137,841
Llobilities
Creditors Amounts fallin
due in one
ar
14
io,o)o
Net Current A55etS
1.130,177
127,841
Total Assets less Liabilities
1.130,177
1.133,455
Total Net Assets less Liabilities
1,130,177
1.133.455
resented b
Unrestrirted Funds
15
1.091.402
1,099,059
Restricted Funds
15
38.775
34,396
Total Funds of the Parish
1.130.177
1,133,455
Notes on pages 13 to 17 are an integral part of these financial statements.
The financial statements on pages 11 to 12 were approved by the Board of Trustees on 18.09.24
signed on it's behaff by..
and is
Rev. B. lan Linton
Clergy
Mrs Shirley Bennett
Hon. Treasurer
Mrs Irene Magennis
Hon. Secretary
'14
13

## **St. John’s Drumgath Parish, Rathfriland** 

## **Notes to the financial statements for the year 31[st] December 2023** 

## **1. Accounting Policies** 

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: 

## **a. Basis of Preparation** 

The financial statements have been prepared on a going concern basis in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 

The Parish meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost and transaction value unless otherwise stated in the relevant accounting policy note(s). 

## **b. Preparation of accounts on a going concern basis** 

The Parish generally meets its day to day working capital requirements from its annual income. The Trustees have obtained and reviewed cash flow forecasts for the coming year and based on these are satisfied that the parish has resources to provide a reasonable expectation that it can continue to meet its financial obligations as they fall due for the foreseeable future. Therefore these financial statements have been prepared on a going concern basis. 

## **c. Income** 

Income is accounted for on a cash receipts basis as the amount is collected and are allocated as either restricted or unrestricted funds according to the terms of the donation. 

## **d. Expenditure** 

Expenditure is recognised on a cash payments basis. 

## **e. Tangible Assets** 

The assets of the Parish comprise:- 

- Church Buildings and Grounds 

- Parish Hall 

- Rectory 

The Church Building and Grounds are deemed to be Heritage assets as defined by the Charities SORP (FRS 102). These Heritage assets are not included on the balance sheet as information on the cost or valuation is not available and such information cannot be obtained at a cost commensurate with the benefit to the users of the accounts and to the parish. 

The assets’ residual values and useful lives are reviewed, and adjusted, if appropriate at the end of each reporting period. The effect of any change is accounted for prospectively. 

Fixtures and fittings are recognised at cost and are depreciated on a straight line basis over a period of 10 years. Tangible assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the new disposal proceeds and the carrying amount is recognised in the statement of financial activities and included in “Other operating (losses) / gains”. 

## **f. Investments** 

Fixed asset investments comprising investment properties, investments in equities and investment in RCB /CIT Unit Trusts are initially recorded at cost and are then subsequently stated at fair value at each balance sheet date. Investments in unquoted investments are recorded at cost and are assessed annually for impairment. Unrealised gains and losses represent the difference between the fair value at the beginning and end of the financial year or, if purchased in the year, the difference between cost and fair value at the end of the year. Realised gains and losses represent the difference between the proceeds on disposal and the fair value at the start of the year or cost if purchased in the year. Both realised and unrealized gains and losses in investments are reported within “Net Gains / (Losses) on Investments” within the Statement of Financial Activities. 

13 



## **g. Cash and cash equivalents** 

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within Creditors Amounts falling due within 1 year. 

## **h. Financial instruments** 

The Parish only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic Financial instruments are initially recognised at transaction price and subsequently measured at their settlement value. 

## **i. Funds** 

Funds are classified as either restricted funds or unrestricted funds, defined as follows: 

Restricted funds are funds subject to specific requirements as to their use which may be declared by the donor or with their authority or created through legal processes, but still within the wider objects of the Parish. 

Unrestricted funds are expendable at the discretion of the trustees in furtherance of the objects of the charity. If parts of the unrestricted funds are earmarked at the discretion of the trustees for a particular purpose, they are designated as a separate fund. This designation has an administrative purpose only and does not legally restrict the trustees’ discretion to apply the fund. 

## **2. Critical Accounting Judgements and estimation uncertainty** 

Estimates and judgements made in the process of preparing the financial statements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Trustees do not consider that there are any critical judgements made in applying the Parish’s accounting policies or that there are any critical accounting estimates or assumptions which may have significant risk of causing a material adjustment to carrying amounts of assets and liabilities within the next financial year. 

## **3. Donations and Legacies** 

||**Unrestricted**|**Restricted**|**Total 2023**|**Total 2022**|
|---|---|---|---|---|
|**FWO**|**33,660**|**2,600**|**36,260**|**34,921**|
|**Plate Collections**|**1,892**|**0**|**1,892**|**936**|
|**Tax Recovered on Donations**|**6,480**|**0**|**6,480**|**5,368**|
|**Special Appeals**|**427**|**0**|**427**|**0**|
|**Third Party Appeals**|**2,171**|**0**|**2,171**|**1,550**|
|**Legacy**|**2,891**|**0**|**2,891**|**47,178**|
|**Donations**|**500**|**0**|**500**|**1,515**|
|**TOTALS**|**48,021**|**2,600**|**50,621**|**91,468**|



## **4. Income From Charitable Activities** 

||**Unrestricted**|**Restricted**|**Total 2023**|**Total 2022**|
|---|---|---|---|---|
|**Special Fundraising**|**5,277**|**0**|**5,277**|**991**|
|**Publications**|**70**|**0**|**70**|**85**|
|**Weddings & Funerals**|**0**|**0**|**0**|**0**|
|**TOTALS**|**5,347**|**0**|**5,347**|**1,076**|



## **5. Investments** 

||**Unrestricted**|**Restricted**|**Total 2023**|**Total 2022**|
|---|---|---|---|---|
|**Bank Interest**|**0**|**0**|**0**|**0**|
|**Dividends received**|**1,133**|**0**|**1,133**|**1,308**|
|**TOTALS**|**1,133**|**0**|**1,133**|**1,308**|



14 



## **6. Other Income** 

||**Unrestricted**|**Restricted**|**Total 2023**|**Total 2022**|
|---|---|---|---|---|
|**Rectory Land Rent**|**0**|**4,200**|**4,200**|**3,444**|
|**GRC Development Forum**|**0**|**0**|**0**|**598**|
|**Electricity Payment**|**600**|**0**|**600**|**39**|
|**Drumgooland Half Reimbursement**|**80**|**0**|**80**|**726**|
|**Joy to the World Film Donation**|**750**|**0**|**750**|**163**|
|**Half Stipend**|**23,444**|**0**|**23,444**|**23,688**|
|**Other Income**|**0**|**0**|**0**|**0**|
|**Grave Fees**|**1,630**|**0**|**1,630**|**250**|
|**Covid 19 Grants Received**|**1,743**|**0**|**1,743**|**2,640**|
|**Bank Refund**|**0**|**0**|**0**|**40**|
|**TOTALS**|**28,247**|**4,200**|**32,447**|**31,588**|



## **7. Analysis of Expenditure** 

|**_Raising Funds_**|**Unrestricted**|**Restricted**|**Total 2023**|**Total 2022**|
|---|---|---|---|---|
|**Fundraising Costs**|**0**|**0**|**0**|**1,467**|
|**Office Costs**|**2,815**|**0**|**2,815**|**3,846**|
|**Bank Fees**|**0**|**0**|**0**|**40**|
|**Bank Interest**|**0**|**0**|**0**|**0**|
|**TOTALS**|**2,815**|**0**|**2,815**|**5,353**|
||||||
|**_Charitable Activities_**|**Unrestricted**|**Restricted**|**Total 2023**|**Total 2022**|
|**Wages and Salaries**|**59,925**|**0**|**59,925**|**57,830**|
|**Diocesan Cost/ Assessment**|**5,914**|**0**|**5,914**|**4,838**|
|**Church Running Costs**|**4,137**|**0**|**4,137**|**3,224**|
|**Hall Costs**|**0**|**0**|**0**|**359**|
|**Grounds – Maintenance**|**809**|**0**|**809**|**269**|
|**Rectory and Lands Costs**|**0**|**2,333**|**2,333**|**1,857**|
|**Rates**|**242**|**991**|**1,233**|**837**|
|**Charitable Donations**|**750**|**0**|**750**|**750**|
|**Third Party Donations**|**2,198**|**0**|**2,198**|**1,538**|
|**Administration Costs**|**471**|**0**|**471**|**332**|
|**Sunday School/Youth Group**|**884**|**0**|**884**|**1,251**|
|**Magazines**|**68**|**0**|**68**|**200**|
|**Loan Repayment**|**0**|**10,000**|**10,000**|**0**|
|**Church Maintenance**|**336**|**3,178**|**3,514**|**119**|
|**First Aid Course**|**260**|**0**|**260**|**950**|
|**Grant Aided Laptop**|**599**|**0**|**599**|**0**|
|**8 x Tables for Church Grant Aided**|**1,200**|**0**|**1,200**|**259**|
|**Sports Equipment Youth Fellowship Grant Aided**|**740**|**0**|**740**|**0**|
|**Reimbursement Bible Event from 2022**|**225**|**0**|**225**|**935**|
|**Disposable spoons, communion wineglasses and dishes**|**158**|**0**|**158**|**1,708**|
|**Insurance**|**4,864**|**0**|**4,864**|**4,076**|
|**Gift Aid Fees**|**377**|**0**|**377**|**334**|
|**Candles etc**|**66**|**0**|**66**|**630**|
|**Wedding Gift**|**168**|**0**|**168**|**140**|
|**Food Costs – Confirmation & Communion Wine**|**252**|**0**|**252**||
|**Total Expenditure**|**84,643**|**16,502**|**101,145**|**82,436**|



## **8. Gain / (Loss) on Investment Assets** 

||**Total 2023**|**Total 2022**|
|---|---|---|
|**Realisedgains/ (losses) on investments**|**1,133**|**1,308**|



15 



## **9. Taxation** 

St Johns, Drumgath Parish, Rathfriland is recognised as a charity for the purposes of applicable taxation legislation and is therefore not subject to taxation on its charitable activities. 

## **10. Collection for Third Parties** 

||**Total 2023**|**Total 2022**|
|---|---|---|
|**Soma**|**260**|**500**|
|**Tearfund**|**425**|**347**|
|**Apprentice Boys **|**205**|**192**|
|**Poppy Appeal**|**400**|**0**|
|**Southern Area Hospice**|**710**|**500**|
|**SU – Scripture Union**|**199**|**0**|
|||**0**|
|**TOTALS**|**2,199**|**1,539**|



## **11. Analysis of Staff Costs, Trustee Remuneration and Expenses, and the cost of Key management Personnel** 

||**Total 2023**|**Total 2022**|
|---|---|---|
|**Salaries & Wages**|**59,542**|**55,091**|
|**Casual Labour**|**383**|**2,739**|
|**TOTALS**|**59,925**|**57,830**|



The average number of employees during the year, calculated on the basis of a head count, was as follows 

|Ministerial Support|**2023**<br>**Number**<br>  1<br>  1|**2022**<br>**Number**<br>1|
|---|---|---|
|||1|



There are no employees in receipt of employment benefits in excess of £60,000 

## **Key Management & Trustees** 

Key management are deemed to comprise the Trustees. 

The parish paid the Rector, who is also a Trustee, a stipend, locomotory and office allowance of £56,554.06 inclusive of a pension of £5424.00.  This amount includes 50% of his wages which comes from our sister church in Ballyward. 

The following expenses were reimbursed to Trustees: 

|DATE|Trustee Name|Amount|Reimbursement of Expenses|
|---|---|---|---|
|10.1.23|Rev. Linton|£66.12|Candles, Christmas Bags etc.|
|18.1.23|Mrs Shirley<br>Bennett|£122.64|Disposable coffee cups, Messy Church food for crafts|
|13.2.23|Mrs Shirley<br>Bennett|£599.00|Grant Aided Laptop|
|1.3.23|Rev. Linton|£105.97|Confirmation Bibles & Nua Workbooks.|



16 



|11.4.23|Rev. Linton|£265.05|Airtastic for Youth & Stamps|
|---|---|---|---|
|11.4.23|Rev. Linton|£225.44|Reimbursement for Bible Club Event 2022 not paid.|
|5.6.23|Rev. Linton|£191.00|Sandwiches for Confirmation service|
|26.6.23|Mrs Shirley<br>Bennett|£168.00|Wedding Gift for Rev R. Magennis|
|26.6.23|Mrs Shirley<br>Bennett|£61.66|Food for Soma BBQ, Youth Kilbroney and Confirmation|
|5.7.23|Rev Linton|£128.93|Kilbroney Youth Trip Supplies for BBQ|
|30.8.23|Mrs Shirley<br>Bennett|£60.94|6 x Bottles Communion Wine|
|25.9.23|Rev. Linton|£614.81|Sports Equipment Grant Aided for Youth Group|
|26.9.23|Mrs Shirley<br>Bennett|£90.92|Flipcharts, Banquet Roll, cold packs etc.|
|3.10.23|Rev. Linton|£125.00|Sports Equipment Grant Aided for Youth Group|
|18.10.23|Mr Gordon<br>Bennett|£57.60|Bulbs etc purchased from PW Sales for Church|
|27.10.23|Mrs Shirley<br>Bennett|£166.09|Speaker for Sunday School.  Disposable spoons, bowls and<br>communion glasses|
|1.12.23|Mrs Shirley<br>Bennett|£136.93|2 x GV for Organists,  PVA Glue & 2 x Glitter|
|18.12.23|Rev. Linton|£154.56|Advent Calendar, hooks, selection boxes etc|



No Trustee or a person related to a Trustee had any personal interest in any contract or transaction entered into by the charity during the year. 

## **12. Tangible Fixed Assets** 

|**Cost**|**Buildings**|**Othe**||**Total**||
|---|---|---|---|---|---|
||**£**|**r**||**£**||
|||**£**||||
|At the Beginning of the Year|990,000||0||990,000|
|Additions|0||0||0|
|Disposals|0||0||0|
|At the End of the Year|990,000||0||990,000|



## **13. Investments** 

17 



|**Cost**<br>Balance at the Beginning of the Year<br>Revaluations during the year<br>Disposals during the year<br>Balance at the End of the Year|**Listed**<br>**Investments**<br>**£**<br>**Non Listed**<br>**Investments**<br>**£**<br>**Total**<br>**£**<br>0<br>15,614<br>15,614<br>0<br>1,133<br>1,133<br>0<br>0<br>0|
|---|---|
||0<br>16,747<br>16,747|



## **14. Creditors Amounts Due Within 1 Year** 

||**2023**||**2022**|
|---|---|---|---|
|Interest Free Loan||0|10,000|



## **15. Analysis of Net Assets Among Funds** 

||General Fund|Restricted Funds|Total 2023|
|---|---|---|---|
|Fixed Assets|990,000|0|990,000|
|Investments|16,747|0|16,747|
|Current Assets|84,655|38,775|123,430|
|Current Liabilities|0|0|0|
|Net Assets at 31stDecember 2023|1,091,402|38,775|1,130,177|



18